Apex Hotels reported a group operating profit of £13.6 million in the year ended April 30, up 4.4% on the year prior.

The revenues rise was driven by major acquisitions including the purchase of the historic Dunblane Hydro Hotel in late 2024.

Apex relaunched the hotel, one of Scotland’s original hydropathic hotels dating from the Victorian period, in late November this year and is currently investing in a major refurbishment of the property to preserve its historic “grandeur” while modernising rooms and conference and public areas.

IAN McCONNELL

Brexit common sense victim of Labour fear amid Erasmus+ hope

Brexit common sense remains a victim of political fears, says Business Editor Ian McConnell.

He writes: “We must continue to hope that common sense will prevail over political fear on this hugely important matter.”

It was enormously frustrating to watch Labour continue to embrace the damage from the Conservatives’ hard Brexit through 2025.

We saw so much fuss last year over trade deals that are truly inconsequential relative to what the UK has lost with Brexit.

The much-trumpeted free trade deal with India, trade arrangements with the US, and agreement with the European Union to mitigate to a small extent the Brexit frictions – all are relatively inconsequential for sure. The EU agreement has the largest impact of the three but even this effect is tiny in the context of the hard Brexit damage.

Labour’s “red lines” of not rejoining the EU, single market or even the customs union mean the enormous toll on the UK economy from the loss of frictionless trade with the huge bloc and the ending of free movement of people between the UK and European Economic Area is set to continue indefinitely.

This is a huge drag on UK growth and grim for living standards which have been under so much pressure for so long now.

BUSINESS BRIEFING

Green light for historic Scottish whisky warehouse revision

Modified plans for the site of a huge £150 million whisky storage facility have been approved.

The storage-related plans are linked to a move to retain existing warehouses along with new facilities.

The initial plan by the Royal Elizabeth Bond near Edinburgh involved the demolition of eight warehouses at the site.

The Herald reported that plans showed 40 units at the site.

The Paul Hogarth Company said in the initial application on behalf of Royal Elizabeth Bond Limited: “This site has been in commercial use since at least the 1940s when it was developed as a depot to supply food and beverages to the Royal Navy.”

The proposals were approved by councillors.

AROUND THE GREENS

Plenty more scope for premium golf

This article appears as part of Kristy Dorsey's Around the Greens series

Financed by a consortium of US and UK investors, the £11 million Dumbarnie Links opened in May 2020 within the Balcarres Estate in the East Neuk of Fife with PGA master professional David Scott as its first general manager.

Despite pandemic disruptions the course reportedly recorded more than 10,000 rounds of golf played by the end of that year, rising to more than 20,000 in 2021 when the venue also hosted the Trust Golf Women's Scottish Open. The number of annual rounds is now hovering around 25,000, and Mr Scott says there is still more space on the course most days.

Like all premium pay-and-play venues in Scotland, most of Dumbarnie's customers – about 80% – come from overseas. Green fees for visitors run from £265 to £350 per round, with Scottish residents paying between £132 and £157.

The expansion of five-star golf across Scotland has drawn criticism from some who maintain that "ordinary" players are being priced out. The recent marked shift towards the high-end experience also brings into question whether the market is nearing saturation, but Mr Scott believes there is still plenty of scope for growth in premium golf tourism.